2013 gst/hst new housing credit

Hello all you real estate guru's...I have a question about a housing credit that I stumbled upon....the GST/HST New Housing Rebate 2013.

I have done a bit of research & it appears that I can obtain a rebate for purchasing a newly (90%+) renovated home last year. I purchased it from a company that flips homes after the renovations so it fits the "builders" stipulation. Does anyone have any experience with this to tell me if I'm right in assuming that I can apply for a rebate of up to $12500 depending on the purchase price of my home? I read that I have 2 years to claim the rebate, so I will do this on my 2014 taxes.

Also, I paid $239K for my home. It did not, that I saw, have a separate area for the application of GST/HST. ?? I was under the impression that because it was "used" it didn't attract GST/HST. IF this is so, this rebate would not make sense.

Anyone?
:confused:

The GST/HST would be in your contract when you bought the house. That you don't know probably means you didn't pay for it and wouldn't be entitled to get a rebate. In other words, if your house had been sold "as new or substantially renovated", you would have had to pay GST/HST.

Add to that, "substantially renovated" is defined in the following document:

However, major changes have to be made to meet the definition of a substantial renovation. In a major renovation project, the interior of a building is essentially gutted. This type of renovation project qualifies as a substantial renovation. Generally, 90% or more of the interior of an existing house is the minimum that has to be removed or replaced to qualify as a substantial renovation (90% test.)

Check your contract..usually the rebate is included in the purchase price of the house and the builder takes the rebate for himself as opposed to giving it to you.:rant:

But in case it was not included in your purchase price, you are definitely entitled to it.

I distinctly remember when I purchased my new house years back , I had to sign a seperate piece of paper/form saying that the builder will be taking the rebate and claiming it on my behalf. but they were upfront about it and it was all included in the price of the house and was all adjusted in the Price of the house. I guess the purchse price would have gone up by a corresponding amt. , if I tried to claim it myself :(

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http://www.realestatelawyers.ca/HSTAndHSTRebates

If you are purchasing a new build home from a builder you may be entitled to an HST rebate. You should note that most Ontario builders include such rebate in the purchase price and have you assign the rebate back to the builder on the closing of your transaction.


If your house is located in Ontario, you may be eligible to claim a provincial new housing rebate for some of the provincial part of the HST that you paid to buy the house.
- See more at: http://www.realestatelawyers.ca/HSTA....SKfxdfWl.dpuf

Thank you for your advice x 2! I didn't buy a new build. I bought a reno'd home that was built in 1986. I'm not sure it was 90% rebuilt to be a substantial rebuild, so I'll have to look into that. Time to search through my papers!:yikes:

Am new to this forum and this is the only house related forum i could find. Has anyone ever used http://www.belairdirect.com/en/home-insurance.html to find home coverage?

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Originally Posted by Jamie42

Am new to this forum and this is the only house related forum i could find. Has anyone ever used http://www.belairdirect.com/en/home-insurance.html to find home coverage?

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Looks to expensive , I got almost double the cost for my home insurance using the above link.

I entered the exact same details as my current insurance policy which just came up for renewal & I got double the quote at belair :yikes: